Posted by labu83 > 2017-05-02 09:14 | Report Abuse

C14 0.015,
Cheap n dale

Posted by labu83 > 2017-05-02 09:57 | Report Abuse

Ok done,now waiting to 2 Sen

Posted by labu83 > 2017-05-02 10:16 | Report Abuse

Mother tp 72 Sen

Posted by labu83 > 2017-05-02 15:07 | Report Abuse

Looking now

Posted by rijack88 > 2017-05-02 15:08 | Report Abuse

up up up!!!tp 0.80

Posted by JoshuaMS7 > 2017-05-02 15:25 | Report Abuse

up up up!!

Posted by offshore > 2017-05-02 17:17 | Report Abuse

Hmm... rowie has deleted all his posts wor. Made me look like I was talking to myself.

Posted by labu83 > 2017-05-02 18:11 | Report Abuse

Umwog Mau kasi angpau

Posted by snwong13 > 2017-05-02 19:01 | Report Abuse

.
http://www.theedgemarkets.com/article/og-merger-may-be-tough-conclude

Posted by spaghetti932 > 2017-05-02 21:41 | Report Abuse

stock price suddenly up, why?

Posted by poorkid > 2017-05-02 21:45 | Report Abuse

Heard if UMW OG up a lot more can opt to choose merger share option than cash? Anyone has better idea?

Posted by limch > 2017-05-03 08:59 | Report Abuse

offshore never mind you can still talk to me. Why the IBs' say the merger cannot be successful whereas PNB CEO choose them instead of other O&G companies?

Posted by offshore> May 2, 2017 05:17 PM | Report Abuse
Hmm... rowie has deleted all his posts wor. Made me look like I was talking to myself.

Posted by limch > 2017-05-03 09:01 | Report Abuse

As I know UMW OG provide drilling oil services whereas Icon provide vessel support to transport oil. Aren't they need each other to transport oil to end buyers?

Posted by limch > 2017-05-03 09:59 | Report Abuse

offshore if both already merged can they sell oil to Shell or Petron instead of only to Petronas?

Posted by offshore > 2017-05-03 10:02 | Report Abuse

Why you say PNB CEO choose them? Based on the edge, it was reported this is not pnb-driven. Umwog only provides the drilling services on the oilfield. How the oil that comes out is to be transported will be decided by the oil company but I doubt the osv owned by icon is big enough to transport the oil to the refinery. Orkim vessels are used to transport petroleum products like petrol or diesel which is a downstream activity.

Posted by limch > 2017-05-03 10:08 | Report Abuse

Even after merger manpower reduction can still be carried out if demand remain slack.

Posted by limch > 2017-05-03 10:13 | Report Abuse

If UMW OG doesn't want to merge then Orkim won't come in right to my understanding?

Posted by offshore > May 3, 2017 10:02 AM | Report Abuse
Why you say PNB CEO choose them? Based on the edge, it was reported this is not pnb-driven. Umwog only provides the drilling services on the oilfield. How the oil that comes out is to be transported will be decided by the oil company but I doubt the osv owned by icon is big enough to transport the oil to the refinery. Orkim vessels are used to transport petroleum products like petrol or diesel which is a downstream activity.

Posted by offshore > 2017-05-03 11:20 | Report Abuse

Although osv is kind of in an oversupply situation, it is a good addition to have orkim in the umwog group. Orkim, being in the downstream, has stable income and can supplement any shortfall during the downturn in the upstream, although margin is normally thin for stable income stream business. By the way, below was a big warning from petronas way back in year 2014 and after that, we all know what happen:

http://www.thestar.com.my/business/business-news/2014/03/05/shamsul-warns-of-declining-charter-rates/

Posted by Kien Fu > 2017-05-04 08:24 | Report Abuse

Why share suspend? suspend until what time? what happen?

Posted by labu83 > 2017-05-04 08:34 | Report Abuse

Good news bro ,legend counter coming back ,can limit up Bos

Posted by labu83 > 2017-05-04 08:35 | Report Abuse

Possible merge n rocket

Posted by offshore > 2017-05-04 08:38 | Report Abuse

Umw not suspended, only umwog. And umw will hold their egm today.

Posted by Kien Fu > 2017-05-04 08:41 | Report Abuse

Hopefully is not sell on news later.

Posted by posby > 2017-05-04 08:46 | Report Abuse

good 1...

Posted by micky92 > 2017-05-04 08:49 | Report Abuse

80 cent coming...praying hard

Posted by Andy88 > 2017-05-04 08:51 | Report Abuse

So obvious

Posted by labu83 > 2017-05-04 08:56 | Report Abuse

Election mode,apa barang pun kasi tolong sama Geng ...Mau kasi angpau cepat2,last time umw suspended n kick of until now,

Posted by JoshuaMS7 > 2017-05-04 09:08 | Report Abuse

queuing to buy back ...

Posted by rijack88 > 2017-05-04 09:24 | Report Abuse

stop trading?

Posted by Andrew62 > 2017-05-04 09:26 | Report Abuse

Maybe UMW Directors reading our comments here.
Buy TOYOTA last...

Posted by Jeff10 > 2017-05-04 09:26 | Report Abuse

read the announcement of the Naga 1 rig then u will understand the sale
they know their business better than us

Posted by battosai123 > 2017-05-04 09:40 | Report Abuse

icon down 9 cents and umwog up 5.5 cents b4 suspension...AMMB say deal off recommend tp 80 cents.. hope PNB will take care of us minority share holders and let the share price recover...good announcement pls..

Posted by offshore > 2017-05-04 09:50 | Report Abuse

There are still a few things not clear in their reply to Bursa on N1 sale. Firstly, that 11 offers received are offer to buy as a working rig or scrap metal? Secondly, whether the dry docking can be deferred if there is no contract? Thirdly, any cost comparison to cold stack the rig vs. selling at a loss? Fourthly, any chance to recover the spare cost from petronas since the contract is suspended by them as and when they like? Perhaps, shareholders should ask during agm. Anyway, their decision to sell reinforce my notion that the industry will not recover soon, otherwise, they would have waited it out for a better price.

Posted by Andrew62 > 2017-05-04 10:21 | Report Abuse

US Shale production cannot meet the expanding World demand.

Posted by Jeff10 > 2017-05-04 10:35 | Report Abuse

u have to cut your cost to survive the tough environment

Posted by Kien Fu > 2017-05-04 10:50 | Report Abuse

any1 know when the trading will resume back? after lunch?

Posted by offshore > 2017-05-04 11:04 | Report Abuse

Andrew62, this downturn tells us there is more than enough oil. The price was high in the past because opec has been controlling the production. But they made a mistake by maintaining that high price for too long to an extent that shale producers have made progress and now, able to produce at a cost that can match offshore producers. Saudi is so cooperative now for production cut because of Aramco IPO. After that, it will be back to their old self.

Posted by offshore > 2017-05-04 11:07 | Report Abuse

Jeff10, there is a difference between cut cost and cut loss. Even if cut loss, at least do it with favourable terms.

Posted by battosai123 > 2017-05-04 11:19 | Report Abuse

N1 now lose as book value RM4.7mil (Asset since 2011 depreciated and 43 yrs old) , Schedule docking unavoidable USD35 mil. No contract insight. Cash flow and maintenance issue. Not right decision??

Posted by Jeff10 > 2017-05-04 11:22 | Report Abuse

nope, offshore says hold & do nothing
just like share price.....hold until PN17, pray then delisted

Posted by offshore > 2017-05-04 11:26 | Report Abuse

Battosai123, please read through the questions I posed earlier and as I have said, even if cut loss, at least sell it at a reasonable price. Are the 11 offers made by genuine drilling companies or scrap metal dealers? This sale will also look very bad on them if the Japanese manages to get a contract after the sale.

Posted by offshore > 2017-05-04 11:31 | Report Abuse

Jeff, I never suggested anything apart from posing a few questions.

Posted by Jeff10 > 2017-05-04 11:50 | Report Abuse

no worries..............mgt knows best, if they screw up, shh will suffer like now.
Perhaps if merger off, it may spur other mergers which may be better

Posted by rijack88 > 2017-05-04 11:51 | Report Abuse

http://www.thestar.com.my/business/business-news/2017/05/04/trading-in-umw-og-icon-offshore-suspended/

Posted by rj0809 > 2017-05-04 11:56 | Report Abuse

When the suspension last? Any idea...

Posted by labu83 > 2017-05-04 12:00 | Report Abuse

rocket tommorow,kawan mesti tolong Bos,at least rm80 cent

Posted by Kien Fu > 2017-05-04 12:02 | Report Abuse

exercise put on hold?? any possibilties tak jadi nanti?

Posted by labu83 > 2017-05-04 12:07 | Report Abuse

PNB it good big investor ,

Posted by labu83 > 2017-05-04 12:15 | Report Abuse

Election semua mesti kena cepat ,Mau pakai duit,become a larger oil gas in Malaysia,
Kasi tabur duit Baru sokong,biasala Bos.....

Posted by labu83 > 2017-05-04 12:16 | Report Abuse

PNB usually good power investor ,